Fuller & Thaler Asset Management Inc. Boosts Stake in Brookline Bancorp, Inc. $BRKL

Key Points

• Fuller & Thaler Asset Management Inc. increased its holdings in Brookline Bancorp by 1.4% in Q1, acquiring an additional 62,998 shares, bringing its total ownership to approximately 5.21% valued at $51.05 million.
• The bank recently announced a quarterly dividend of $0.135 per share, with a dividend yield of 5.1%, payable on August 22nd to shareholders of record as of August 8th.
• Brookline Bancorp reported $0.25 EPS for the last quarter, meeting analysts' expectations, while the company's revenue was slightly below estimates at $94.66 million.

Fuller & Thaler Asset Management Inc. boosted its stake in Brookline Bancorp, Inc. (NASDAQ:BRKL - Free Report) by 1.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,683,640 shares of the bank's stock after acquiring an additional 62,998 shares during the period. Fuller & Thaler Asset Management Inc. owned 5.21% of Brookline Bancorp worth $51,052,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in Brookline Bancorp by 16.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,994 shares of the bank's stock worth $207,000 after purchasing an additional 2,701 shares during the period. Illinois Municipal Retirement Fund increased its position in Brookline Bancorp by 3.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 49,172 shares of the bank's stock worth $536,000 after purchasing an additional 1,573 shares during the period. Deutsche Bank AG increased its position in Brookline Bancorp by 55.9% during the 4th quarter. Deutsche Bank AG now owns 74,903 shares of the bank's stock worth $884,000 after purchasing an additional 26,856 shares during the period. Asset Management One Co. Ltd. acquired a new position in Brookline Bancorp during the 1st quarter worth approximately $156,000. Finally, Northern Trust Corp increased its position in Brookline Bancorp by 6.1% during the 4th quarter. Northern Trust Corp now owns 908,872 shares of the bank's stock worth $10,725,000 after purchasing an additional 52,183 shares during the period. Institutional investors and hedge funds own 78.91% of the company's stock.

Insider Activity at Brookline Bancorp

In other news, insider Janytra M. Brooks sold 3,763 shares of the business's stock in a transaction that occurred on Saturday, August 2nd. The stock was sold at an average price of $10.28, for a total transaction of $38,683.64. Following the sale, the insider owned 44,322 shares of the company's stock, valued at $455,630.16. The trade was a 7.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.55% of the stock is owned by company insiders.

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL traded up $0.54 during trading on Friday, hitting $11.16. 1,837,486 shares of the stock were exchanged, compared to its average volume of 540,127. The company has a fifty day moving average price of $10.67 and a two-hundred day moving average price of $10.76. The company has a market cap of $994.47 million, a PE ratio of 12.54 and a beta of 0.91. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.92. Brookline Bancorp, Inc. has a 12-month low of $9.28 and a 12-month high of $13.15.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The business had revenue of $94.66 million for the quarter, compared to analyst estimates of $94.90 million. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%. On average, analysts forecast that Brookline Bancorp, Inc. will post 1.35 EPS for the current year.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.54 annualized dividend and a dividend yield of 4.8%. Brookline Bancorp's payout ratio is 60.67%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Brookline Bancorp to a "hold" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $15.25.

Brookline Bancorp Company Profile

Brookline Bancorp, Inc operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company's loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans.